The New Kid on the Block…the Variable Annuity! The variable annuity of commonly referred to as a GMWB is on the horizon. In June 2006, I attended the Morningstar Investment Conference, which focused on “Retirement Income Planning”. One well-known speaker, Moshe Milevsky, introduced the concept in retirement planning of not just how to generate retirement […]
I had a great question from a client who recently asked “When I convert my RRSP to a RRIF, how much money must I withdraw each year?”. That’s a great question, so I thought I would explain RRSP and RRIF withdrawals and the basic rules. You can make a withdrawal for any amount, up to […]
Service Canada – Canadian Retirement Income Calculator With RRSP season having just ended and tax season ramping up, the last thing on most people’s minds right now is planning for their retirement. Whether you do your own investing on-line, use your local bank, broker, or a financial planner do you know your “Number”? Experience shows […]
Pros and Cons: Withdrawals from RRSP or RRIF I often get questions about “how to begin payments from an RRSP?” or “when to start a RRIF”? What follows is a high level overview when contemplating withdrawals for either type of plan. RRSP = Registered Retirement Savings Plan (sometimes just called RSP for short) RRIF = […]
Your RRSP Contribution Limit Calculation Your RRSP contribution limit is the lesser of 18% of earned income in a given year to a maximum defined by CRA. There are several adjustments that may apply to your personal situation. Here is a simple example. Jane Doe has earned income of $50,000 for 2012. Her RRSP deduction […]
TFSA versus RRSP? Don’t Leave it to Chance! [ezcol_1half] Read this article to help you decide…click here [/ezcol_1half] [ezcol_1half_end] [/ezcol_1half_end]
Do you need realistic answers to key retirement questions? [ezcol_1half] Do I have enough money to retire? How long will my money last? When can I retire? How much do I need to save for my retirement? Do I need a life annuity? What is my optimum asset mix? [/ezcol_1half] [ezcol_1half_end] Click here to learn […]
Reduce Stress with a Life Annuity in your Retirement Plan A life annuity is simply a financial product whereby you invest a lump sum of money with an insurance company and in turn they provide a guaranteed income payment for life. Think of it as buying your own personal pension plan. Here is an article […]